Mentha oil gains 1.2% on spot demand

Domestic, export demand against limited arrivals helps price surge

Amid a pick up in domestic and export demand, mentha oil prices rose by Rs 15.80 to Rs 1,327 per kg in futures trade today as speculators created fresh positions.

At the Multi Commodity Exchange, mentha oil for delivery in August rose by Rs 15.80, or 1.21%, to Rs 1,327 per kg, with a business turnover of 1,196 lots.

The September contract moved up by Rs 16, or 1.20%, to Rs 1,349.50 per kg in 234 lots.

Marketmen said fresh positions created by speculators, driven by a rise in domestic and export demand against limited arrivals from Chandousi in Uttar Pradesh, pushed up mentha oil prices at futures market.